Nasdaq F Ford

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U.S. stock indexes fell on Thursday weighed down by gloomy forecasts from Meta and Qualcomm, while an early reading showed the U.S. economy contracted again in the second quarter adding to fears the economy was already in recession.

Ford Motor Co. F reported adjusted earnings of 68 cents per share in second-quarter 2022, topping the Zacks Consensus Estimate of 43 cents. Higher-than-expected profits in its North America, South America and Europe segments led to this outperformance.  The bottom line ju

Canada on Thursday welcomed a deal reached by U.S. senators to back a bill that includes an expansion of tax credits for electric vehicles (EV) produced in North America that does not discriminate against those manufactured in Canada.

Ford Motor Company (NYSE: F) just turned in great second-quarter results on Wednesday. There's no denying that. The company appears primed and ready to take on electric vehicle (EV) trailblazer Tesla. It had almost $3 billion in operating cash flows that it will use to support it

Wall Street's main indexes were set to open lower on Thursday following gloomy forecasts from Meta and Qualcomm, while an early reading which showed the U.S. economy contracted again in the second quarter also weighed on sentiment.

The NASDAQ 100 Pre-Market Indicator is down -52.42 to 12,549.05. The total Pre-Market volume is currently 42,809,750 shares traded.The following are the most active stocks for the pre-market session: ProShares UltraPro QQQ (TQQQ) is -0.6 at $30.14, with 3,146,141 shares traded.

U.S. stock index futures fell on Thursday led by Nasdaq as gloomy forecasts from Meta and Qualcomm soured the mood ahead of data which could likely show a slight rebound in U.S. economic growth in the second quarter.

Asian tech firms from chipmaker Samsung to display panel maker LG Display warned of a sharp slowdown in demand for smartphones, TVs and gadgets as surging inflation and deepening concerns of a recession crimp consumer spending.

Lithium miner Pilbara Minerals Ltd said on Thursday it raised its spodumene concentrate output by more than half in the June quarter compared with the prior three-month period, amid "exceptionally strong" demand for battery raw materials.

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In a unanimous decision at the latest meeting of the Federal Open Market Committee (FOMC), it was decided that the Fed funds rate would be raised another 75 basis points (bps), as widely expected. This brings the rate to 2.25-2.50%, up 225 bps in less than five months. Fe

Ford Motor Company (F) came out with quarterly earnings of $0.68 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.

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Ford Motor Co on Wednesday reported better than expected second-quarter profit and reaffirmed its profit outlook for the year, but said management is "actively looking" at how to offset surging costs.

(RTTNews) - Ford Motor Co (F) revealed a profit for its second quarter that increased from last year and beat the Street estimates.

Ford Motor Co reported better than expected second quarter profits and reaffirmed its profit outlook for the year, but said management is "actively looking" at how to offset surging costs.

The following companies are expected to report earnings after hours on 07/27/2022. Visit our Earnings Calendar for a full list of expected earnings releases.Meta Platforms, Inc. (META)is reporting for the quarter ending June 30, 2022. The internet software company's consensus ea

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The auto industry has felt the impact of the past year’s bearish macro developments; the rise in semiconductor prices and the costs of raw materials, supply chain snags and the economic downturn have all been highlighted as ongoing headwinds.

However, the issues do not seem to have dampened demand in the EV sector, as noted by Goldman Sachs’ Mark Delaney.

“At the industry level, we believe that consumer interest in EVs has remained very strong, and key indicators of EV demand, such as Google search trends, remain at a high level,” the analyst explained. “This is consistent with recent commentary from Tesla, and we continue to believe that high gas prices will be a positive factor for EV demand especially in regions where electricity pricing has been more stable (such as the US)."

But it’s not only Tesla noting the strong demand.

Ford (F) recently provided an update on its EV strategy and the auto giant said it is seeing “continued strong demand” for Mach-Es and F-150 Lightnings.

The company reaffirmed its objective to reach a global annual run rate of 600,000 by the end of 2023 and 2 million+ by the end of 2026. Ford provided more information about the breakdown of its 2023 target and said that it will consist of 270,000 Mach-Es for North America, Europe, and China, 150,000 F-150 Lightnings for North America, 150,000 Transit EVs for North America and Europe, and 30,000 of a new SUV model for Europe.

To support the production target with battery capacity of ~60 GWh for ~600,000 units, Ford disclosed several battery supply agreements. The company also said 70% of the battery cell capacity required to meet its 2026 target has also already been sourced.

Delaney expects investor focus will increasing turn to EV profitability, a segment that historically has had “modest to negative” profits. “Ford’s target is to reach an 8% adjusted EBIT margin on EVs by 2026 (and 10% for the company in total), and the combination of scale, lower cost batteries, and purpose built EV architectures will be helpful on this front,” Delaney remarked.

For now, the analyst sticks with a Neutral rating on Ford and his price target of $14 suggests shares have room for modest gains of 6%. (To watch Delaney’s track record, click here)

Looking at the consensus breakdown, 6 Buy ratings, 10 Holds and 1 Sell have been published in the last three months. Therefore, Ford gets a Moderate Buy consensus rating. Based on the $16.63 average price target, shares could climb ~26% in the year ahead. (See Ford stock forecast on TipRanks)

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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.